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Bitcoin Weekly to Four Analysis: Everything To Know Good morning Trading family So I created this video to figure out where we are currently at in Bitcoin in price but as well what levels can Bitcoin reach currently and what happens if Bitcoin reverses with the Bears I try to go into full depth to give you some levels to look for to help you mark out good entry or short positions if you are shorting Bitcoin If you like this video or found it helpful : like, comment, follow, boost I appreciate it all Mindbloome Trading / Kris Trade What You See
MARKETSCOM:BITCOINLong
by Mindbloome-Trading
10/23 5th time BTC rejected from 70k. Bullish? Overview: The AMEX:SPY saw a healthy pullback of 0.9%, with a long wick touching levels last observed on September 26th. The index trended downward from the start of the trading session but rebounded sharply in the last two hours, doubling the volume seen earlier in the day. This surge formed a hammer candle—a bullish indicator, particularly when accompanied by increased volume. Existing home sales in the U.S. dropped 1% from the previous month, reaching a seasonally adjusted annual rate of 3.84 million in September 2024, marking the lowest level since October 2010. Today, new home sales and initial jobless claims are expected, with forecasts set at 245k, slightly above the previous reading of 241k. If the numbers come in lower than expected, it would suggest the economy is not cooling sufficiently, potentially extending inflation. This decline could be attributed to a rise in the 30-year fixed mortgage rate, which jumped 14 basis points to 6.82%, the highest since July 26 and a 71-basis-point increase since the Fed’s last major rate cut. The likelihood of a rate cut in November has now dropped to 7%, influenced heavily by the Fed's upcoming reports. Given the weakening housing data, a rate cut may still be necessary to support the economy. The recent market correction has exposed different strategies among ETF managers. BlackRock continues to buy aggressively, maintaining its purchase levels even after a 5% correction, keeping its stance bullish. Fidelity has remained neutral, staying on the sidelines since the peak of the current bull wave. ARK Invest, however, bought heavily at the top but is now selling during the correction, realizing losses. In summary: BlackRock is bullish, Fidelity is neutral, and ARK is bearish. BTC TA: W: BTC is slowly forming this week's red candle, but bullish hopes persist. D: A significant correction unfolded, as the triple divergence likely completed. The day's wick dipped below $65.8k, then bounced off the 0.618 Fibonacci level, calculated from the bullish pump that began on Monday, October 14th. Despite the pullback, BTC showed higher volume and managed to recover. The final daily candle formed a bullish hammer, although the volume wasn't notably higher than the last two bearish days. As previously mentioned, as long as $62.7k holds, the bullish outlook remains intact. Drawing trendlines for BTC this year shows the current upper boundary is slightly sloped downward—forming the top of what appears to be a bullish flag. It follows a large rally, with a slight pullback and consolidation, setting up for another potential breakout. Last Friday, on the 18th, the trendline was broken, suggesting a bullish confirmation if retested. However, yesterday’s price action pushed BTC below this trendline. Of course, the trendline could be adjusted to fit the bullish narrative, but the key level to watch is $66.5k. 4h: A sharp drop occurred yesterday, but most of it was recovered in the latter half of the day. This dip seems correlated with the S&P 500’s drop. BTC lost the local point of control at $66.8k but regained it. If bearish momentum continues this week without positive news, and if BTC falls below $65.8k, the next critical support is the yearly level of $62.7k. However, this would be the fourth or even fifth time this year that BTC has been rejected from $70k. If that happens again, will there be enough bullish momentum left to hold $62.7k? The candle that bounced off the 0.618 Fibonacci level formed a green hammer with above-average volume—a bullish sign. 1h: The hourly chart shows a V-shaped recovery, an uncommon pattern in market behavior. Beyond that, no additional insights. Alts Relative to BTC: Interestingly, SOL has been rising while the rest of the market declines. Some attribute this to renewed interest in memecoins. However, popular Solana-based memecoins like WIF, BONK, and MEW are down, with only Popcat showing gains. Bull Case: BTC faces rejection at $70k, followed by a deep pullback, and the Fed decides not to cut rates in November. Bear Case: The Fed cuts rates, and BTC rallies. Fear and Greed Index: The index is at 52, continuing its downward trend this week. Opportunities : Check BINANCE:APTUSDT for a possible short opportunity. If SUI and TAO already corrected after their big pump, APT still wobbles at the top and recently posted bearish shooting star daily candle with high volume.
COINBASE:BTCUSD
by EvgenCapital
The dominance of BTC in the options market is now back to 2021 October monthly expiry is just around the corner and in general October has been less than expected, with the upcoming election and interest rate cuts not bringing much positive news or inflows to cryptocurrencies. The IV for the election week stayed at 55%, while earlier options were affected by the move to the moon and the IV was significantly lower, while there was also a significant increase in Block options trading, with 40% of daily trades now coming from the Block. The dominance of BTC in the options market is now back to 2021 levels, which is directly related to the weakness of ETH, and options market indicators are now almost exclusively based on BTC data.
BITSTAMP:BTCUSDLong
by Greeks_live
Not hurry up with a new longMorning folks, So, Monday's setup is done perfect, we've got long entry around 66K support area as we've planned. But next step currently is not evident. The point is that the retracement starts across the board - DXY, FX, Gold, Bonds etc... BTC in recent few weeks had a bit special performance. And mostly it was moving higher on D. Trump crypto programme. Currently we wouldn't hurry up with a new long entry. Those who bought around 66K could keep positions with breakeven stops.
COINBASE:BTCUSD
by Sive-Morten
1
Selling BTC/USD at 69,000Although trading in Bitcoin continues to be mixed and volatile, there are certain factors that offer a negative bias: • We posted a bearish Outside Daily candle on October 21. This formation is often seen at the top of the trend and the start of a new downward bias. • We have broken out of an Ending Wedge formation to the downside. This pattern offers a measured move target of 62,033. • The intraday chart highlights the building of a bearish Bat formation. We have substantial resistance is located at 69,000. This trade plan will expire at midnight on October 24. SL: 70,250 TP1: 62,055 R Rate 5.56 #tradeplan #bitcoin
COINBASE:BTCUSDShort
by IanColeman
Bitcoin Price Forecast: Potential Breakout This chart showcases Bitcoin's current market structure, hinting at a potential bullish breakout. After forming a descending wedge and consolidating just below the key resistance zone (~$70,000), Bitcoin could experience a dip towards ~$48,000 before rebounding. The projected trajectory suggests a surge above the previous highs, targeting levels over $100,000 by mid-2025. This analysis highlights Bitcoin’s cyclical nature, the significance of the $70,000 resistance zone, and the momentum required for a breakout toward new all-time highs.
BITSTAMP:BTCUSDLong
by AbnerSee2000
up up upFlexity Analysis for BTCUSD Forecast Overall(Short-Term, Long-Term): ST=Strong Up LT=Strong Up Forecast Methods(Short-Term, Long-Term): ST=Up LT=Up ST=Up LT=Up ST=Up LT=Up FlexityIndicator Analysis Method(0) **BTCUSD Analysis and Forecast as of October 23, 2024** **Short-term Analysis (Next Few Days to a Week)** ### Price Movement Expectation * **Upward Trend**: The current downward move is seen as a shallow correction, and technical indicators suggest a potential rebound. * **Target Prices**: + Mid-level resistance: $61,848 + Further upside potential: $70,000 * **Forecast**: + Attempt to test support level near $64,665 + Upward rebound and continuation of growth with a target above $74,565 ### Supporting Factors * **Institutional Demand**: Improving market sentiment driven by macroeconomic factors supports the overall bullish outlook. * **Technical Indicators**: + Keltner Channel + Choppiness Index **Long-term Analysis (Next Few Weeks to Months)** ### Price Movement Expectation * **Upward Trend**: Analysts suggest that Bitcoin could be due for a rebound, especially given the recent US CPI data. * **Target Prices**: + New record highs (potential) * **Forecast**: + Bullish price trend reversal + Acceleration of upside towards new record highs (potential election victory of Donald Trump) ### Supporting Factors * **Bullish Technical Picture**: + Rising moving averages + Thickening Ichimoku cloud * **Institutional Investors**: + Capitalized on recent declines + US spot Exchange Traded Funds recorded significant inflows * **Macroeconomic Factors**: + Moderating inflation (US CPI data) **Overall Outlook** * **Short-term**: Price expected to go up, with potential targets above $70,000 and $74,565. * **Long-term**: Price expected to go up, with potential targets at new record highs. Result: ST=Up LT=Up FlexityIndicator Analysis Method(1) Bitcoin (BTCUSD) Price Movement Analysis Short-term Analysis (Next few days to November 2024) Expected Price Movement Up Reasoning The technical indicators suggest a bullish market sentiment, with a Fear & Greed Index of 65 (Greed) and a strong positive momentum. The predicted price range for the next few days ($68,424 - $80,978) and the expected price on October 26, 2024 ($78,356) indicate a potential growth of 16.86% from the current price. The forecasted minimum and maximum prices for November 2024 ($75,485.36 and $95,685.40, respectively) also suggest an upward trend. Long-term Analysis (Beyond November 2024) Expected Price Movement Up Reasoning The overall bullish sentiment is supported by growing market expectations, including the potential impact of political events such as the U.S. elections. Institutional investors have been capitalizing on recent dips, indicating continued institutional interest. Some analysts see $100,000 as the next target for Bitcoin, which suggests a long-term upward trend. Summary Based on the provided data, I expect the price of Bitcoin to go up in both the short-term and long-term. However, please note that cryptocurrency markets can be highly volatile, and prices may fluctuate rapidly. These predictions are based on the available data and should not be considered as investment advice. Result: ST=Up LT=Up FlexityIndicator Analysis Method(2) Market Analysis Conclusions Short-term Outlook (Next Few Days/Weeks) The price is expected to go up. The technical indicators suggest a bullish outlook, with Bitcoin maintaining its position above key support levels and showing resilience. Technical Indicators Signal Cup with Handle Pattern Bullish Keltner Channel Indicator Bullish Momentum Choppiness Index Bullish Momentum A shallow correction is possible, but the overall technical picture suggests further gains. Long-term Outlook (Next Few Months) The price is expected to go up. The analysis suggests that Bitcoin could return towards $69,500 and potentially break through to $70,000, with further upside possible to $72,000 or even its all-time high around $73,760. Market sentiment supports the bullish sentiment, including expectations of a Fed rate cut and strong institutional demand. The overall bullish technical picture, including positive momentum and bullish MA configurations, underpins the expectation of continued growth. Note: These conclusions are based on the analysis provided and are subject to change as new data becomes available. Result: ST=Up LT=Up
BITSTAMP:BTCUSDLong
by orbborisson
1
Chart Pattern Analysis Of Bitcoin. K3 is a bullish spring candle, If K4 close upon K3 to verify it. It will be a good place to buy it here. At least, The previous strong bearish momentum had been interrupted here. If the potential bear trend wants to expand. The market needs more signals to verify it. I don’t think another bear run had stated form K1, It is just a larger scale consolidation, And days later, the bull market will keep climbing up. I bought back at K4, Perhaps it is risky or too early to do it now.
COINBASE:BTCUSD
by nothingchangehere
Could the Bitcoin reverse from here?The price is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support which acts as an overlap support. Pivot: 68,102.13 1st Support: 66,091.35 1st Resistance: 69,487.36 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:BTCUSDShort
by ICmarkets
2
BTC, can confirm we confim the breakout?Please check the previous idea to get the bigger picture - You find it in my profile Hello everyone, Bitcoin reached the top line of the flag pattern, that was built from the 74k top. We got a strong move up, but the breakout didn't even reached 70k. Bearish Case Currently we are in a correction of about 3000 Dollar and the correction could expand, if the current support from the 1H 200 EMA will be lost. The next support would come in between 64k and 65k. Bullish Case If the price can stay above 66500 and breaks the pattern to the upside, it will face resistance at 68k and needs to get over 68400 to continue the path to the upside. If that's the case, 73k should be the next target
COINBASE:BTCUSD
by Kyrean
Are WE ready to fly to 100K on BTC?! Check this out!Are YOU ready to join this financial revolution? Are YOU already in? Share your thoughts on this! Bitcoin (BTC) is back in the spotlight, and the question on everyone’s mind is: Are WE ready to soar to $100K?! 💸🚀 With the world watching the successful launch of the BTC ETFs earlier this year, market trends showing resilience, and whispers of major institutional investors coming in, the future for BTC is looking brighter than ever! 🌕 The road to $100K won’t be a straight shot, and volatility is always part of the game. But with strategic planning, strong HODLing, and the right moves, WE might just be on the brink of something huge.📈 Get ready before we take off! #BTC100K #BitcoinTo100K #CryptoInvestment #BitcoinHODL #BTCCommunity #CryptoFuture #AMFinancialPeak #FinancialFreedom #WealthBuilding #Diversification #BTC #HODL Disclaimer: This is for educational purposes only, not a recommendation! Never assume that an investment will continue to do well in the future simply because it's done well in the past. Seek knowledge and professional help!
COINBASE:BTCUSDLong
by AriMasazume
6
2024-10-23 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well. tl;dr Bitcoin - Bears did good but need a daily close below 65000 to confirm the bull trap. Right now it’s a tough spot to trade since daily 20ema was support and bears need to keep it below 68000. Probably best to sit on hands and wait for a breakout of this range. Still think bears are slightly favored to break below and trade down to at least 63000. bitcoin comment: Chart is the same as I posted on Sunday and my two legged correction was a bit too low for the B but C was absolutely perfect. What now? Daily 20ema could be support for now but my bearish thesis stands. Market has not printed 70000 and I doubt it will again for a longer time. Bears need follow through to make the last bulls cover and the selling would likely accelerate. current market cycle : trading range (big triangle on the daily chart) key levels: 60000 - 69000 bull case: Bulls bought the daily 20ema and want to keep it support and retest 69000. They know that if they fail here, market will test down to 62000 quickly. I do not have any more arguments for the bulls, since my bias has been bearish for many weeks now. If they close a daily candle above 68000 again, I would change my mind. Invalidation is below 65000. bear case : Bears had their do or die moment again and made it. Now they need follow through because a daily close above the big bear trend line from the ath would give bulls confidence again and bears would cover in fear of 70000. They need a daily close below 65000 to confirm the bull trap. My line in the sand was 66500 as of yesterday and we are not at 66400, so too close for comfort for bears. Invalidation is above 68000. short term: Bearish below 68000. Confirmation is for bears is below 65000. medium-long term - Update from 2024-10-06: Something between 49000 and 70000. Big surprise, I know. I don’t know if we get a breakout of this range in 2024 again. current swing trade: None trade of the day: Bear trend day since Globex open, so pick anywhere and sell but maybe not into US close. Looking for shorts near the 1h 20ema was a decent strategy today.
CRYPTO:BTCUSD
by priceactiontds